Delta to establish investment agency

Determined to fully harness the investment potential in the state Delta State Governor, Ifeanyi Okowa, on Tuesday in Asaba announced the intention of his administration to set up the Delta State Investment Development Agency.

Okowa, who spoke during a visit by the Swiss Consular General, Yves Nicolet, said that the state Investment Development Agency amendment Bill was presently before the House Of Assembly and would be approved in the next few weeks.

He said that the agency would liaise with the organised private sector, diplomatic missions and investors the world over to utilise the investment opportunities and grow the state economy.

“We will soon establish the Delta state Investment Development Agency, whose Amendment Bill is before the House of Assembly and will be passed within the next few weeks. The agency will liaise with the organised private sector, embassies, investors from around the world to improve bi-lateral and investment relationship in the state.”

Okowa explained that given the recent financial challenges facing the country due to dwindling oil price, the state has embarked on the diversification of its economy through the agricultural sector using commercial farmers and other farmers on the ground.

According to him, in the next few years, the measures will act as a pivot to aggregate the state’s economic output, export its produce, improve the revenue base and also uplift the life of the peasant farmer.

He commended the envoy on the visit and assured him of the state readiness to partner with Swiss companies and investors to develop the state economy describing the state as the Economic hub of the South-South region with the best enabling investment environment.

On his part, Nicolet told Okowa that he was in the state to explore its economic potentials stressing that the Swiss Government was interested in improving the bi-lateral trade relationship with Nigeria and diversify its investments to other states apart from Lagos.